Turning Cagey
Another one of Nic Cage’s palatial homes- turned foreclosure- recently sold for 3.5 million less than the original purchase price. The Las Vegas home purchased by Cage in 2006 for $8,500,000 was eventually sold post-foreclosure to a buyer at a steal of $4,900,000.
The home overlooking the Las Vegas strip boasts a 16-car subterranean garage among other luxuries. Considering the financially strapped Cage still owns about 13 other homes and two castles, it will be no surprise if you see a few more estates heading to the auction block.
La Toya Jackson Losing Home
When it’s news from the Jackson family these days, it’s usually not good.
Michael Jackson’s older sister, La Toya, is about to lose her luxurious condo in Las Vegas, Nevada. The property is located in the Regency Towers of Las Vegas International Country Club. She reportedly owes $745,670.27 on a home she paid $260,000 for back in 1996, according to TMZ.
Yep, she tripled her money on the refinance and is now heading for the hills — she apparently had all her personal effects packed up and shipped elsewhere last month.
No wonder we’re in the midst of an epic financial crisis.
Anyway, La Toya has to come up with the cash by the end of the month or she’s going to lose this Las Vegas hot spot. Don’t hold your breath.
The Clark County Recorder’s office has a scheduled auction date for the condo on September 30. We may see more of this after Michael Jackson has died since the money has officially run out. He was a big part of why the family had so much money in the first place.
Debbie Gibson home in LA avoids foreclosure; Plastic surgeons rejoice
Honk honk!
Debbie Gibson and her sweet surgically-maintained 39-year-old body have dodged the dreaded foreclosure bullet.
Big Time Listings reports that the 1980s-era pop tart unloaded her 1,733-square-foot lemon in Los Angeles’ Hollywood Hills — located at 1522 Forest Knoll Drive — for $900,000 in a short sale transaction.
That’s $375,000 less than what she paid for the quaint two-bedroom love shack back in 2005.
The good news is that the bank gets stuck with the loss, ensuring Gibson is able to keep spending freely on silicone, suction and such to keep her electric youth and doesn’t get lost in your eyes.
Only in my dreams could I imagine that anything is possible like this. I’m losin’ myself at the thought … what a foolish beat.
Music Producer Loses Miami Mansion
Scott Storch, the big-time music producer, has lost his multi-million dollar mansion in sunny Miami, Florida. Storch was a producer for artist like Mariah Carey and Brittney Spears, so you know he had money at some point. Storch is no stranger to spending money. He is known for flaunting several fancy cars and boats which I’m sure that he can no longer afford either.
The Miami mansion had 10 bedrooms, 16 bathrooms, and of course is right on the water. The market value of the home is about $7 million dollars. Scott Storch lost the home when it was bought at an auction by his bank, Suntrust Bank, at the price of $5.5 million dollars. He apparently went default with Suntrust starting last July and now they want their money back. I don’t blame them for grabbing this home back. A mansion like this can bring in a ton of money for them in the future. See ya Storch!
The home was bought last Friday, August 21st, after a long process of trying to get the home since Storch filed for bankruptcy. Hope you kids are learning from all of this.
Michael Jackson’s personal physician could face foreclosure
The personal physician that is being investigated in the death of Michael Jackson could face foreclosure on his Las Vegas country club home. Dr. Conrad Murray is more than $100,000 dollars behind in payments for the home that made the news when it was searched by authorities during Jackson’s manslaughter investigation.
Dr. Murray has accumulated penalties on his $1.7 million dollar home loan at the Red Rock Country Club. The Clark County Recorder filed the paper work last month on July 23rd. The doctor really got himself in a pickle.
Records show that the home is 5,268 square feet and is right on the 18th hole of the famous country club in Vegas. It includes four bedrooms, pool, and even a spa.
